Everything Else Held Constant,if Aggregate Output Is to the ________

question 34

Multiple Choice

Everything else held constant,if aggregate output is to the ________ of the IS curve,then there is an excess supply of goods which will cause aggregate output to ________.

• A)right;fall
• B)right;rise
• C)left;fall
• D)left;rise

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Definitions:

Contract

A legally binding agreement between two or more parties that outlines rights and duties each party has agreed to.

Valid

A term applied to a contract that includes all four elements of a contract—agreement (offer and acceptance), consideration, contractual capacity, and legal object—and thus is enforceable.

Recognizable Beneficiaries

are individuals or entities that can clearly be identified as intended to benefit from a contract, trust, or legal arrangement, even if not directly party to it.

Agents of Beneficiaries

Individuals or entities acting on behalf of those who are to receive benefits or rights under a contract, will, or trust.